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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4659
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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On death, ISAs lose tax - free status, so profits within them

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On death, ISA's lose tax - free status, so profits within them are taxable as Capital Gains.

I have relatively large gains and wonder if I should crystallise these by Bed and Breakfasting them now.

I am over eighty, so the question becomes more relevant as the days go by!

Hello, if you have any questions or need further clarification after reading my answer please let me know.


Thank you for your question.


Your ISA will end on the date of your death. There is no income tax or capital gains tax to pay up to the date of death. There is no need to crystallise these gains for reasons stated by you. Your personal representatives will only have to account for tax on any income or gains arising after your death.


Confirmation of this can be found on HMRC helpsheet under" What happens if I die" here


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I hope this is helpful and answers your question. If you are happy and there are no more issues I will appreciate if you would kindly rate the service I provided to ensure I get paid for it.


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